Mark RENFRO; Gerald Lustig, as Representatives of a Class of Similarly Situated Persons, and on Behalf of the Plan
v.
UNISYS CORPORATION; Unisys Corporation Employee Benefit Administrative Committee; Unisys Corporation Savings Plan Manager; Pension Investment Review Committee; Fidelity Management Trust Company; Fidelity Management and Research Company; Fidelity Investments Institutional Operations Company, Inc.; J.P. Bolduc; Matthew J. Espe; Gail D. Fosler; Randall J. Hogan; Clayton M. Jones; Clay B. Liflander; Theodore E. Martin; Charles B. McQuade; FMR LLC Mark Renfro; Gerald Lustig, Appellants.
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Claire Prestel, Esquire , Public Justice, P.C., Washington, D.C., for Amicus Curiae-Appellant, Public Justice.
Jay E. Sushelsky, Esquire , AARP Foundation Litigation, Washington, D.C., for Amicus Curiae-Appellant, AARP.
Gregory Y. Porter, Esquire , Bailey & Glasser LLP, Washington, D.C., for Amici Curiae-Appellants, Richard Kopcke and Francis Vitagliano.
Brian T. Ortelere, Esquire (Argued), Joseph J. Costello, Esquire , Azeez Hayne, Esquire , Melissa D. Hill, Esquire , Morgan Lewis & Bockius LLP, Philadelphia, PA, Joseph A. Teklits, Esquire , Unisys Corporation, Blue Bell, PA, for Appellees, Unisys Corporation, Unisys Corporation Employee Benefit Administrative Committee, Unisys Corporation Savings Plan Manager, Pension Investment Review Committee, J.P. Bolduc, Matthew J. Espe, Gail D. Fosler, Randall J. Hogan, Clayton M. Jones, Clay B. Liflander, Theodore E. Martin, Charles B. McQuade.
Jonathan D. Hacker, Esquire (Argued), Meaghan McLaine Vergow, Esquire , O'Melveny & Myers LLP, Washington, D.C., John S. Summers, Esquire , Hangley Aronchick Segal & Pudlin, Philadelphia, PA, for Appellees, Fidelity Management Trust Company, Fidelity Management and Research Company, Fidelity Investments Institutional Operations Company Inc., FMR LLC.
Thomas L. Cubbage III, Esquire , Covington & Burling LLP, Washington, D.C., for Amicus Curiae-Appellee, the Investment Company Institute.
Nancy G. Ross, Esquire , McDermott Will & Emery LLP, Chicago, IL, for Amicus Curiae-Appellee, Securities Industry and Financial Markets Association.
Howard Shapiro, Esquire , Proskauer Rose LLP, New Orleans, LA, for Amicus Curiae-Appellee, the Chamber of Commerce of the United States of America.
Before: SCIRICA, AMBRO and VANASKIE, Circuit Judges.
United States Court of Appeals, Third Circuit.
OPINION OF THE COURT
SCIRICA, Circuit Judge.
Plaintiffs Mark Renfro and Gerald Lustig, representatives of a putative class of participants in a 401(k) defined contribution plan, sued defendants Unisys Corp. and Fidelity Management Trust Co. and its related corporate entities under the Employment Retirement Income Security Act of 1974 (ERISA), 29 U.S.C. § 1001 et seq., for breach of fiduciary duty. Plaintiffs
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